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EDC Minutes r June 21, 2002 Not Approved Page 3 • 4. I-35W Corridor Coalition—Economic Development Activities: Backman distributed a sample of the marketing insert that the City of Blaine used for the Twin Cities Business Monthly magazine. The Economic Development & Marketing Committee would like to develop a similar marketing piece for the I-35W Corridor Coalition. Backman indicated that he would be talking to potential business regarding potential sponsorships for the insert. 5. Metro North CVB Board Meeting: Backman attended the CVB Board meeting on June 12th John Connelly, Executive Director, discussed the changes in the tourism/convention sector post-September 11th. The full-service and business traveler markets have been affected more. On average the Minneapolis Metro North CVB communities have seen an 8-10% reduction in room occupancy. Metro-area CVB's are drawing down their reserves. Connelly indicated that it would be prudent to review operational expenses in relation to revenues. The Board directed Mr. Connelly to reduce the 2002 budget by $35,000 (or 2.7%). 6. EDC BUSINESS A. Manufactured Home Park Revitalization Public Meeting: Since the April 10th meeting of Ramsey County, Durand&Associates, and City staff several milestones have been met. Ramsey County sent a letter on April 29th delineating its expectations. Ramsey Co.wanted a commitment on the part of the park owners to invest in needed infrastructure(eg.water line replacements). Durand &Assoc. provided this commitment letter to the City on June 5th. Backman has drafted a letter 1111 inviting all Moundsview MHC residents to a public meeting at the Community Center on July 10th to discuss the program. After some input from the other entities, this will be mailed out to residents shortly. B. Meeting w/Everest & Request for Revised C.G. Hill Development Agreement: Backman distributed four handouts to the members—letters from Backman to Everest re C.G. Hill and Building N,a summary of developer payments for all TIF projects with the City, and a letter from Everest requesting an extension of the TIF note for the C.G. Hill project. Backman reviewed the handouts with members. He met with Tim Nelson and Jim Knight on May 30th to discuss the revised TIF developer payment calculations. At the meeting, for the first time, they agreed that there were overpayments over six years regarding C.G. Hill(totaling$12,073.76). Subsequently, the developer has requested that the TIF Note for C.G. Hill be extended for 101/2 years and that this request be considered at the next EDA meeting. Backman will bring the matter before the City Council at its July 1st Work Session. C. Abbey Carpet—Prospect Activities: Backman briefly discussed the status of Abbey Carpet. John Kopas was looking at relocating the business to a leased building in Arden Hills (across Lexington Ave. from the SuperTarget). Cub Foods, in turn, came in and bought the property. This caused Kopas to look at Mounds View again. On June 18th Backman met with Kopas,Tom Link(John's partner), Rob Carlson (his builder), and John Gearin (his attorney). The focus was on the old Perkins Restaurant site. Kopas asked what the City could do to help financially. He indicated that their intent is to put up a new 20,000 sq.ft. building on the 1.8 acre site. Backman, noting that Kopas and the Halls still needed to come to terms with the purchase price,discussed forms of assistance that the EDA could consider for this redevelopment project. At this point Dave Fox left the meeting for another appointment. McDonald noted that the City of Mounds View has made redevelopment along Hwy 10 a top priority and that this project would complement the recently expanded Mermaid complex. McDonald moved that Backman explore financial assistance for Abbey Carpet that would take the form of TIF funds allocated for